New York, NY – February 16, 2011 – (RealEstateRama) — Kent M. Swig, President of Swig Equities, LLC, is pleased to announce that the firm has purchased clean, renewable energy for 80% of its commercial office buildings in Manhattan’s FiDi (Financial District) neighborhood. Swig Equities signed a one-year contract with Green Mountain Energy Company for the company to provide green electricity from sustainable sources.
Clean energy is 100% pollution-free and produced entirely from renewable sources, such as wind, meaning the resources used to make them are naturally replenished and virtually inexhaustible. The increased use of renewable electricity in the United States means less of our electricity will have to come from limited and polluting fossil fuel resources, such as coal and oil.
“We are delighted to launch this major green initiative, which is a sound business decision on all levels,” said Mr. Swig. “It was a natural fit for us to bring renewable energy as part of our focus to regularly upgrade and improve our buildings with the finest state-of-the-art facilities in the country. This is a responsible move that respects the values of our tenants who share our commitment to protecting and caring for the environment.”
According to Green Mountain Energy Company, clean, renewable energy helps preserve and protect the environment for future generations. It also creates employment opportunities in the green job sector and helps secure America’s energy future by investing in domestic sources of energy.
“We will be integrating additional energy reduction programs as the year progresses as part of our overall commitment to reducing energy consumption and greening our portfolio. Our additional efforts also include recycling, use of green cleaning materials, and reducing water consumption,” said Norman Zeller, Senior Vice President and Director of Property Management, Swig Equities, LLC.
About Swig Equities, LLC
Swig Equities, LLC is a real estate development, investment and management firm based in New York City with offices in San Francisco. The firm is an active purchaser and developer of prime residential and commercial buildings as well as operating companies and securities. Over the past few years, Swig Equities has purchased and/or developed in excess of $3 billion of properties, which includes 110 William Street, a 32 story , 900,000 square foot commercial office building; 90 Broad Street, a 25-story, 400,000 square foot office building; 80 Broad Street, a 36 story, 400,000 square foot office building; 48 Wall Street, a 34 story, 324,000 square foot office building; 44 Wall Street, a 350,000 square foot office building; 5 Hanover Square, a 325,000 square foot office building; 770 Lexington Avenue, a 20-story, 155,000 square foot commercial office building in Midtown Manhattan; and 450 Sansome Street, a 140,000 square foot offi ce building in downtown San Francisco.
